Singapore, February 27 Singapore-listed Thakral Corporation Ltd said it will begin in-house manufacturing of drone components in May, citing the potential market growth of USD11 billion by 2030, up from USD 500 million in 2024.
"To expand in the enterprise drone market and meet the growing demand for industrial and commercial drones, the Group plans to explore manufacturing enterprise-grade and specialized drones in India," Thakral said in its latest financial report released on Thursday.
"Through these initiatives, the Group will be well-positioned to capitalize on opportunities in this underserved market."
The Group said it is well-positioned to capture growth in the agricultural drone segment through its subsidiary, Bharat Skytech, which manufactures and supplies drone components to domestic producers.
Thakral has a partnership with the Chinese DJI technology group.
"Demand for the Group's range of DJI drones, accessories, and audiovisual products in South Asia continues to rise. As part of the Group's further expansion, Thakral plans to open 20-30 DJI retail stores across India and other South Asian countries over the next two to three years, including flagship stores in major cities, starting in 1H2026," said Singapore's Indian-origin business group with operations in Japan, Australia and China.
Thakral is capitalizing on India's drone ecosystem and cited an industry report that projected the country's drone market to grow from USD500 million in FY2024 to USD11 billion by FY2030.
As the official distributor of Nespresso in India, the Group continues to expand the brand's presence with the opening of its second boutique at Ambience Mall, Gurugram, in March 2026.
Additional boutiques and pop-up stores are planned for Mumbai and Bengaluru later this year. These initiatives are expected to further strengthen brand reach and drive revenue growth, said Thakral.
Thakral is also driving long-term growth with real estate and healthcare in India.
The Group is also involved in a 21-acre mixed-use healthcare-led development site in Gurugram, part of National Capital Region since 2024.
The site, with over 2.5 million sq. ft. of development potential, will feature a hospital, health and wellness centre as well as residential components. Through this initiative, the Group aims to establish a balanced mix of recurring income and development revenue.
The Group said it is in advanced discussions with a Tier 1 hospital operator and residential development partners to mitigate operational risks and manage costs for this project.
Given the scale of the project and its location within a high-growth corridor in the National Capital Region, the Group said it sees meaningful long-term value creation potential as development progresses.
Thakral reported unaudited results for 12 months ended Dec 31, 2025. Revenue rose 42 per cent year-on-year to SGD411.3 million, and net profit attributable to shareholders increased five-fold to an all-time high of SGD170.9 million.